Who is investing in bitcoin? Who is using bitcoin? It can be tough to track this information; the data is scarce but that’s understandable. Being…
"There's an essential part of the ethereum architecture that leads developers into writing smart contracts with certain vulnerabilities."Indeed, researchers have estimated that there are 34,000 vulnerable smart contracts active on the ethereum mainnet today, a problem the founders attribute to fundamental flaws with Solidity. "And the problem isn't just bad language design - like solidity is a bad language, we can just make a better language - the problem is architecturally deep, it has to do with the underlying security model," Miller told CoinDesk. Miller continued, saying that the core of the problem is that within these systems authorization and identity are connected. With a passport in one hand and a set of keys in another, Miller explained that Agoric's approach seeks to decouple authorization-based access control, like car keys, from identity-based access, like a passport. Because on blockchain-based systems, identities and wallets are linked, a switch to an authorization-based model could help protect developers from making expensive mistakes. Miller told CoinDesk:
"What we're doing is we're preserving the basis of authorization-based access control up through all the layers of abstraction, so that all the derivative rights created by smart contracts are as transferable as the tokens."
"We have several plans in motion but our primary focus right now is how to help solve these problems and make the market leaps and bounds bigger."Chalk drawing via Shutterstock
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